Can a plaintiff recover damages if they have not crystallized their loss?
Ontario, Canada
The following excerpt is from Kerr v. Danier Leather Inc., 2004 CanLII 8186 (ON SC):
Under s. 11 of the U.S. 1933 Act it is clear that the plaintiffs must not have crystallized their loss in order to recover damages. Damages for plaintiffs who have not sold are determined by the value at the time the suit was brought. Post-suit market action is irrelevant except for plaintiffs who sold after suit and before judgment. Damages for those plaintiffs are limited to their actual loss: Beecher v. Able, supra, at 409.
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